Elle Macpherson is out, Heidi Klum is in.  Lingerie powerhouse Bendon is giving itself a model makeover.

As reported in WWD, Macpherson (50), nicknamed “The Body,” will take her three licensed lines and part ways with Bendon at the end of the year. Macpherson will continue her line with new partners.  Bendon will continue its ~$750 million business with a new partner as well — and with someone Macpherson has already accused of nabbing her nickname!

It was announced that German model and burgeoning business mogul Heidi Klum (41) will be creative director and ad campaign model for the New Zealand-based company’s newest licensed line, Heidi Klum Intimates, launching worldwide in January.

According to Bendon, Klum was the first and only personality approached about replacing Macpherson.

“It’s unique to be able to take a brand and convert it to another name that you believe will grow the line exponentially,” said Justin Davis-Rice, chief executive officer of Bendon, noting that Elle Macpherson represents 20 percent of the company’s business. Other licensed and in-house brands include Stella McCartney, Pleasure State, Evollove, Lovable, Davenport, Fayreform, Hickory and Bendon Man.

Says Klum: “I’ve seen a lot of lingerie in the past 20 years, probably more than anyone.”  She plans to put her own mark on new styles in the next collection, though core pieces such as colorful lace and satin push-up bras will remain part of Bendon’s mainstay business.